Comment Re:Cash, baby - that's where it is at. (Score 1) 358
Aside from the kids, a lot of it depends on where you live too. In my area, the median income for a family was $37k in 2000 (gross, of course). My income AFTER TAXES, probably around $40k (my job's got some nice benefits, so I don't always see cash immediately).
I'm guessing I'd be just below the median for a family currently after taxes, which means I'm doing better for myself (single) than what quite a few couples and other singles are doing. If someone was in a similar situation as I am (single, new home, paid off car, about $15k in student loans), if you're pulling down $100k, chances are good, after taxes, you're probably pulling in more money than I am. If you're in a similar area, you're also MUCH better off than I am (housing's gone up so $100k a year gross will get you at least 2000 sq ft homes here for only 2x your gross PPY)--at this point, I'd consider you rich (making lots of money in a fairly poor area).
Now, for comparison... to become a member of Responsible Wealth, you have to be in the top 5% of earners in the country--currently this is around $125k. Now realize 125k doesn't go as far in CA or the northeast, but it still makes you friggin' rich compared to the 95% that's below you.
I'm guessing I'd be just below the median for a family currently after taxes, which means I'm doing better for myself (single) than what quite a few couples and other singles are doing. If someone was in a similar situation as I am (single, new home, paid off car, about $15k in student loans), if you're pulling down $100k, chances are good, after taxes, you're probably pulling in more money than I am. If you're in a similar area, you're also MUCH better off than I am (housing's gone up so $100k a year gross will get you at least 2000 sq ft homes here for only 2x your gross PPY)--at this point, I'd consider you rich (making lots of money in a fairly poor area).
Now, for comparison... to become a member of Responsible Wealth, you have to be in the top 5% of earners in the country--currently this is around $125k. Now realize 125k doesn't go as far in CA or the northeast, but it still makes you friggin' rich compared to the 95% that's below you.
